Investing in your financial education is one of the most important decisions you can make to feel confident and empowered about your financial decisions and building wealth. We have curated some of the best books on money, work and business that have made us think this year, from inspiring Australian and Kiwi women authors.
Table of Contents
“Think before you speak, read before you speak.” Fran Leibovitz
Money with Jess – Jessica Irvine
Jess means business when it comes to budgets. As a self-confessed ‘numbers nerd’, she takes us on a tour of her meticulous budgeting philosophy and system, and sheds light on the steps we can all take to feel more confident and empowered in our decisions about money.
As Jess notes, when it comes to money, often it is not our level of income but our sense of ‘financial control’ that is the greatest indicator of personal wellbeing and satisfaction. Being comfortable with our financial situation may require an examination, and potential adjustment, of both our emotional and practical engagement with money. To this end, this book addresses some of the most common limiting attitudes we have towards money, and highlights actionable ways to get into a healthier money mindset to succeed financially. Moreover, Jess lays the foundations for enjoying financial freedom – a state of mind more so than a destination – built on the four key pillars of generating income, tracking spending, creating a surplus and investing it.
This is a very approachable, beginner friendly book and a great place to start if you are looking to develop a healthier and happier relationship with money by implementing sensible budgeting strategies.
The Ethical Investor – Nicole Haddow
Nicole takes a deep dive into the world of ethical investing against a backdrop of the 2019-20 bushfires and pandemic lock-downs which bring issues around climate change, gender inequality and cost of living challenges into sharper focus.
Starting with an overview of what ethical investing actually means, Nicole explores building wealth in a way that aligns with her values and yields the best possible investment return: by moving into a sustainable home, buying shares in companies she can really get behind, researching ethical super funds, and investigating progressive banking options.
While there is often no perfect option when it comes to ethical investing, with many shades of grey, Nicole considers a range of strategies to help choose investment options that can drive long term positive change. These include the importance of understanding your existing financial products, which was no easy feat when it came to finding out the specific investment holdings of her super fund (spoiler: she abandons ship).
Nicole provides an overview of some progressive Australian banks, super funds and other financial disruptors that offer greater transparency and are working towards positive change, and highlights some considerations to factor in when exploring ethical investment options to ensure that you understand the whole ethical landscape and are still meeting your financial objectives. Other takeaways include the importance of staying engaged to make sure that your expectations are met over the long term. Handy reminders about due diligence, ethical investing checklists and resources for finding further information and advice round out this helpful book.
In summary, The Ethical Investor is a great starting point for those who are keen to make positive investment decisions to align with their values and are looking for an accessible introductory guide to do so.
Is ethical investing close to your heart? Read our guide for supporting social change and building wealth in line with your conscience here.
She’s On The Money – Victoria Devine
This is a great, informative all-round book that covers a range of helpful money topics in an accessible way to help take control of your financial future, including strategies for managing cash flow, savings and debt, relationships and financial planning, as well as superannuation, investing, home loans, tax and insurance.
With a focus on unpacking how mindset, beliefs and values affect our relationship with money, along with a range of practical tools, including templates for goal setting, a 12-month action plan and focus on accountability partners, this book focuses on teaching key money principles that are designed to empower women and help turn financial dreams into reality.
The chapters on relationships and money are particularly enlightening, given that differences around attitudes to money is one of the key sources of conflict between couples. Victoria offers some practical pointers on having constructive conversations about money and aligning financial goals with a partner, outlining some of the key factors to consider when combining finances (or steps to take if things don’t work out).
Key strategies include ensuring that both parties keep on top of managing money, investment and wealth creation decisions and commitment to open and honest communication. Maintaining at least one personal savings account to make financial decisions independently is important to allow for unexpected life events.
Girls That Invest – Simran Kaur
One half of the Girls That Invest podcast duo, Simran provides a comprehensive overview of investing for women and offers a step by step guide to those interested in beginning (or continuing) their investment journey. The first half of the book provides a handy overview of investing fundamentals and understanding your financial ‘why’, while the second focuses on exploring specific investing styles and strategies that can help women feel confident and empowered in making investment decisions for their financial future.
We particularly enjoyed Simran’s breakdown of some of the institutional and structural barriers women face when it comes to managing their personal finance and investing. She highlights in particular the lack of education around these concepts and a culture of shame around discussing money; the historical exclusion of women and minorities from the world of finance, business and property ownership; and the lack of representation of women within the world of investing.
The way money media speaks to men and women also has a detrimental effect on women’s relationship with money. Whereas men are encouraged to lean into strength and power when it comes to money and investing, articles and images relating to women and finance highlight the importance of saving over investing, with a focus on the complexity and risks associated with the latter. The bottom line: when women are constantly served content that suggests that money and investing are too hard and complex to grasp, it is all too easy to believe that this is actually the case, with detrimental outcomes for women’s financial futures.
With actionable steps at the end of each chapter and inspiring stories of investing from women in the Girls That Invest community, this book provides an excellent foundation to help women develop an investing strategy that works for their specific financial situation and objectives.
